A World Bank arbitration panel lowered an initial US$8.7 billion award to U.S. oil company ConocoPhillips as compensation for Venezuela's 2007 expropriation of its assets to US$8.5 billion, according to a decision dated August 29 posted online.
Hyundai Motor Co's unionized workers in South Korea voted on Monday to accept the lowest bonus offered in nearly two decades amid widespread restructuring in the auto industry and a damaging trade dispute with Japan.
Swedish telecoms operator Telia has offered concessions to allow rivals fair access to its TV channels to address EU antitrust concerns about its US$957 million bid for Bonnier Broadcasting, an EU document seen by Reuters showed.
LONDON: The pound slid on Monday (Sep 2) as speculation mounted about an early election and data revealed a slump in UK manufacturing fuelled by Brexit uncertainty, traders said. Sterling fell nearly 0.8 per cent versus the dollar in late London trading. That helped lend strong support to ...
HONG KONG: HSBC completed the first yuan-denominated blockchain-based letter of credit transaction, the bank said on Tuesday. HSBC, like many of its competitors, has been looking to use digital ledger technology, or blockchain, to streamline the traditionally paper-based and bureaucratic business ...
Argentina's international dollar bonds hit record lows on Monday while its financial stocks tumbled and risk premia shot up after President Mauricio Macri reimposed capital controls on Sunday as the country's debt crisis spirals.
Saudi Arabia has named Yasir al-Rumayyan, head of the kingdom's sovereign wealth fund, known as the PIF, as the chairman of state oil giant Aramco, replacing Energy Minister Khalid al-Falih, Bloomberg reported on Monday, citing an unnamed Saudi official.
LONDON: Tata Steel is to shut a plant in Wales but has agreed to safeguard jobs elsewhere, the Indian giant announced Monday (Sep 2), as it restructures amid the collapse of a mega-merger. Tata, Britain's biggest steel operator, said it will close its Orb Electrical Steels in Newport, South Wales...
The United States and Poland believe suppliers of 5G network equipment should be rigorously evaluated for foreign government control, a joint declaration signed on Monday said, as Washington pressures allies to exclude China from 5G networks.
THE HAGUE: Dutch national carrier KLM said it scrapped 28 round-trip flights Monday (Sep 2) across Europe after ground staff downed tools in a two-hour strike for higher wages. Airline spokeswoman Manel Vrijenhoek said the move came after a section of ground crew belonging to the largest Dutch ...
